Through the oversight of the Department of Business and Industry, certain business entities are allowed to receive a tax credit against the premium tax imposed on insurance companies in exchange for investing in qualified community development entities. A qualified community development entity that seeks to have an equity investment, or long-term debt security designated as a qualified equity investment and eligible for tax credits under this chapter, must pay a fee in the amount of 0.5% of the amount of the equity investment or long-term debt security requested to be designated as a qualified equity investment to the department. The fee that is deposited in the New Markets Performance Guarantee Account will either be returned to the applicant or reverted to General Fund appropriations based on performance. Statutory Authority: NRS 231A.